KBA has reported a net profit of £12.9m (EUR19.1m) for its half-year results, up more than 50% year-on-year.The German press giant posted revenues of £537.5m for the first six months, up 9.4%, with orders up 1% at £491m.
The negative trends centred on a slump in demand for newspaper and gravure presses, with lower orders year-on-year, although this was buoyed by the specialist press division, with overall new orders flat at £237m.
The sheetfed sector fared better, with sales up 12.4% at £253m and orders up 3%.
Sales in both KBA's web and specialist division and its sheetfed arm both exceeded orders, reducing the backlog to £595m.
These volumes will keep two of the company's manufacturing facilities running for the rest of the year, but won't secure full employment at the firm's domestic sites in Würzburg, Trennfeld and Frankenthal, claimed the company, which celebrates its 190th anniversary this year.
Full-year guidance remained unchanged with sales expected to hit £1.15bn and pre-tax earnings at £32m.
Source: printweek
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